Introduction
Are you looking to invest your money in the stock market? If so, you’ll need to choose an online brokerage that will allow you to buy and sell stocks. Two popular options are TD Ameritrade and IBKR. In this article, we’ll compare these two online brokerages to help you decide which one is right for you in 2023.
Background on TD Ameritrade and IBKR
TD Ameritrade is one of the largest online brokerages in the United States. It was founded in 1975 and is headquartered in Omaha, Nebraska. TD Ameritrade offers a wide range of investment products, including stocks, bonds, mutual funds, and ETFs. IBKR, or Interactive Brokers, is another popular online brokerage. It was founded in 1977 and is headquartered in Greenwich, Connecticut. IBKR is known for its low fees and advanced trading platform.
Fees
When it comes to fees, TD Ameritrade and IBKR have different pricing structures. TD Ameritrade charges $6.95 per trade, while IBKR charges $1 per trade. However, IBKR charges a monthly fee of $10 if you don’t meet certain trading requirements.
TD Ameritrade Fees
TD Ameritrade charges $6.95 per trade for stocks and ETFs. Options trades are also $6.95 plus $0.75 per contract. Mutual fund trades are free for no-load funds, but there is a $49.99 fee for load funds. There are no account minimums, but there is a $75 transfer fee.
IBKR Fees
IBKR charges $1 per trade for stocks and ETFs. Options trades are $0.65 per contract, with a $1 minimum. Mutual fund trades are $14.95 per transaction. There is no account minimum, but there is a monthly activity fee of $10 if you don’t meet certain trading requirements.
Trading Platform
TD Ameritrade and IBKR both offer advanced trading platforms. TD Ameritrade’s thinkorswim platform is known for its user-friendly interface and powerful tools. IBKR’s Trader Workstation platform offers advanced charting and customization options.
TD Ameritrade Trading Platform
TD Ameritrade’s thinkorswim platform offers a variety of tools and features for traders. It includes real-time market data, advanced charting, and a customizable dashboard. The platform also allows you to trade options, futures, and forex.
IBKR Trading Platform
IBKR’s Trader Workstation platform is designed for advanced traders. It offers advanced charting, a customizable workspace, and real-time market data. The platform also allows you to trade options, futures, and forex.
Investment Products
TD Ameritrade and IBKR both offer a wide range of investment products. TD Ameritrade offers stocks, bonds, mutual funds, ETFs, and options. IBKR offers stocks, bonds, mutual funds, ETFs, options, futures, and forex.
TD Ameritrade Investment Products
TD Ameritrade offers a wide range of investment products. You can trade stocks, bonds, mutual funds, ETFs, and options. The platform also offers a variety of research tools and resources.
IBKR Investment Products
IBKR offers an even wider range of investment products than TD Ameritrade. You can trade stocks, bonds, mutual funds, ETFs, options, futures, and forex. The platform also offers advanced research tools and resources.
Customer Service
When it comes to customer service, both TD Ameritrade and IBKR offer several options for getting help. TD Ameritrade offers phone support, email support, and a live chat feature. IBKR offers phone support, email support, and a live chat feature as well.
TD Ameritrade Customer Service
TD Ameritrade’s customer service is known for being helpful and responsive. The platform offers phone support, email support, and a live chat feature. The live chat feature is especially helpful for getting quick answers to your questions.
IBKR Customer Service
IBKR’s customer service is also known for being helpful and responsive. The platform offers phone support, email support, and a live chat feature. The live chat feature is especially helpful for getting quick answers to your questions.
Mobile App
Both TD Ameritrade and IBKR offer mobile apps for trading on-the-go. TD Ameritrade’s app is known for its user-friendly interface, while IBKR’s app is known for its advanced features.
TD Ameritrade Mobile App
TD Ameritrade’s mobile app offers a user-friendly interface and a variety of features. You can trade stocks, ETFs, and options, as well as view real-time market data and news.
IBKR Mobile App
IBKR’s mobile app offers advanced features for traders on-the-go. You can trade stocks, ETFs, options, futures, and forex. The app also offers advanced charting and customization options.
Conclusion
In conclusion, both TD Ameritrade and IBKR are popular online brokerages that offer a variety of investment products and advanced trading platforms. TD Ameritrade is a good option for beginner to intermediate traders who want a user-friendly platform and a wide range of investment products. IBKR is a good option for advanced traders who want low fees and advanced trading tools. Ultimately, the decision between TD Ameritrade and IBKR depends on your personal trading goals and preferences.
